topic Re: Inquiries-How long are they affecting score? in General Credit Topics

Inquiries-How long are they affecting score?

Anonymous — Tue, 16 Jul 2013 01:10:12 GMT

I realize that hard inquiries stay on ones credit report for 2 years, (12 months on FICO) however, is there less impact on the score as they are aging toward 12 months. As an example, does a 6 or 7 month old inquiry affect the score very much?

Re: Inquiries-How long are they affecting score?

DaveSignal — Tue, 16 Jul 2013 00:23:44 GMT

A hard inquiry starys on your report for 2 year (24 months). It will have an effect on your score for 1 year (12 months). Your score will recover when the inq is no longer scored (after 12 months).

Re: Inquiries-How long are they affecting score?

JonStur — Tue, 16 Jul 2013 14:47:45 GMT

Although the impact on your score diminishes, some creditors still may initially deny you for having too many inqs before they fall off.

Re: Inquiries-How long are they affecting score?

DaveSignal — Tue, 16 Jul 2013 15:03:27 GMT

The impact on your score does not diminish. Ask anyone in the garden club. You lose the points when you take the inq and get them back after 12 months.

Re: Inquiries-How long are they affecting score?

JonStur — Tue, 16 Jul 2013 15:18:51 GMT

@DaveSignal wrote:
The impact on your score does not diminish. Ask anyone in the garden club. You lose the points when you take the inq and get them back after 12 months.

Overall score impact depends on other factors as well; beginning score, which CRAs, the boost you get from increased utilization, etc. For example I went on a six app spree a little over 2 months ago. Lost about 20 points across the board, I've already regained half of that and need to change the scores in my signature when I get a chance...